Six key points to review before buying a home

Buying a house is the dream of many people, but it can become a nightmare if the proper precautions are not taken during the process of choosing a home. That is why you should pay attention to every aspect that we deal with in this document so that your purchase with review before buying a home is a wise investment and not a big mistake.

Oftentimes, you may find a home that meets many of the demands you are looking for. So, it is important that you do not make a decision based on the first impression, where it is often full of emotions. 

By carefully analyzing and detailing the important aspects of a home, you may determine that it is not the right one for your investment. For example, the deterioration that it may present in some areas, the environment in which it is located and the way in which it is divided. Maybe just some aspects that will make it a good investment or not.

On the other hand, in Pakistan there are many options for the acquisition of a home. It is important that you review some characteristics of it well before making the purchase. A prior review can protect you from making a bad investment or can give you the assurance that it is the ideal place for you.

Point 1: Legal aspects

When deciding whether or not to buy a home, there are very important aspects to consider and others that can result in the comfort and taste of the homeowner. The important aspects of a home are those on which ownership and land space depend.

For your home investment to be long-lasting, meditate on the importance of the following points.

Owner’s title

First, as one of the most important issues to consider when buying a house. You need to confirm that whoever wants to sell the house in question is the real and absolute owner of it. This is done by verifying the title of the property.

There are cases in which the title may be in the name of another person. This is possibly due to the fact that the property has not been transferred to whoever wants to sell it. And it can turn out to be an inconvenience for those who aspire to buy it. Since only the owner or legal owner can make the sale of the property.

That is, if you want to buy a house that is in the name of a person other than the seller. You must wait for the legal owner of it to appear, according to the registry to avoid legal inconveniences later.

Property limits

The property you want to buy has a record of the limits of the land where it is located. This implies measures that will give you the security of the space you can own. 

You can go to the Property Registry and verify the limits and total measurements of the property. For example, if you want to make a purchase for a home available in Lahore but you don’t know its scope. You just have to go to these public institutions and you will get the information you want.

Because it is important? A two-story home with an attached business may only have one story registered. In this case. When making the purchase of this type of property, you will have to pay individually for the apartment that is not registered. This will be an extra expense and you will have to determine if it is what you want.

Check the structure when buying a home

During the home buying process, it is imperative that you consider the structure of the home. Not just the external aspects those are common on first impressions, but the internal ones that often go unnoticed.

Structure

The materials with which your future home can be structured are important for its durability and resistance. Although it has been tested with different architectural models, at present. It has had more success with classic materials such as: cement, bricks and concrete.

This class of materials, allow durability in the investment that you can make. However, they also represent an economic challenge when purchasing them, since their prices are usually somewhat high.

When finding flaws or failures in the home, the costs are also higher. For example, any remodeling that can be done will involve the use of machinery and the transfer of demolition waste. 

It is prudent to evaluate the different options on the market, since there are currently prefabricated houses that. Although they are not as durable over time and require medium-term maintenance unlike concrete houses, tend to be considerably cheaper.

As for structural failures, you must take special care with cracks in the ceilings and in the joints of the walls. Since they can be synonymous with deterioration due to the passage of time or some external factor. These types of cracks can generate water seepage in these areas and begin to deteriorate the home.

Electricity

Electrical faults found during the review will cost a great deal of repair. The wiring may be out of date and in need of replacement, the raceways may be old, and some of the items in the manhole boxes may be in poor condition.

It is recommended that you check all external elements such as switches, sockets and light points. With a simple visual inspection, you will be able to get an idea, however, for a larger inspection the advice of a specialist technician is recommended.

Plumbing

In some houses, it is common to see defects internally. The revision of pipes and water points, drains, connections that have leaks, poor location of sinks, toilets, bathtubs and showers, among others, can avoid leaks in the budget.

On the other hand, you have to take into account your personal tastes and if you plan to have children in the future or if you already have them. Since having only one bathroom can be a problem when more than two people already live in a household.

Divisions

Although it is important to have several divisions in the home, it is necessary that they have the appropriate dimensions. A home may have five bedrooms and two bathrooms, but they can be very small compared to others with just two bedrooms and one bathroom.

At this point, the most advisable thing is to think about your current needs, and then you can move on to thinking in the medium term. Remember that the largest houses are not always the most comfortable as they may require more time to maintain and also tend to require more money during repairs.

Likewise, modular houses are supposed to have an interesting added value since we can send them to be built to our liking. We can even adapt additional divisions over time and the cost will be lower.

After analyzing these aspects, you will realize that it is important to take your time to review the house you want to buy, sometimes it is advisable to make several visits. 

If you are married, it is ideal to invite your partner to visit the house, since having two people inspecting it will be easier to detect any unfavorable point in the property. If you are single then you can be accompanied by a friend or hire a construction inspector, on this last figure we will give you more details, later.

Indirect factors that influence when buying a home

When considering home as an acquisition, it is important to verify some factors that can indirectly influence the purchase. These should also be reviewed to ensure that the purchase of the property is a good choice. 

However, these aspects are subjective and are only the responsibility of the buyer and their preferences. Although the real estate services to buy a house are willing to help you in this regard.

Location 

This aspect influences its price. In addition, it is important that the house is in an area that fits the buyer’s work area. And that it has nearby educational and health centres for children and family in general, commercial establishments, among others.

Accessibility 

Regardless of the characteristics of a house, it is important that it has good access. To verify this matter, it is advisable to visit the area at different times to see the traffic flow. You can also verify that public transport works and is optimal to reach different places (work, hospital, school).

Environment 

The different shops, markets, banks, pharmacies, among other services that are nearby, can be useful for the family. In addition, it checks the state of the streets, the night lighting and the services available for the area.

Climate change during the year

Pakistan has different types of climate. For example, if you are looking for an attractive, sunny place with a magazine cover view, Islamabad would be a suitable option. However, if you are interested in colder climates, regions such as swat, Gilgit, or Hunza would be ideal for enjoying mountainous and winter landscapes.

Who takes into account all these factors, will make a good home purchase and will enjoy the appropriate conditions according to their preferences. In addition, with or without family, you will have everything you need to live comfortably.

Point 2: Additional expenses that can be generated with the purchase of a house

It is important that you are aware of the additional expenses that are acquired when buying a home. These may be related to the type, location, boundaries of the terrain, etc.

Services

• Transportation: Can you find transportation from very early to late at night? This is due to the convenient timetables presented by the stations and trains.

However, these services have a cost that can represent an inconvenience if you use them very regularly, such as the journey from home to work. It is advisable to be located in an area close to daily activities to avoid excessive expenses in this regard.

• Water, Electricity, Gas: These are services that are expected in any type of home. However, in some areas, the cost of them may vary, making them cheaper or more expensive, depending on the type of home, its insulation, age and size.
• Maintenance: Depending on the type of home, there may be certain needs regarding its maintenance. Some can involve high costs depending on the type of communal areas, gardens, swimming pools, private security, porters, etc. Houses have much more maintenance needs than flats, even in communities with large and well-equipped areas. In the construction structure in a house, the owner is solely responsible, while in a residential building, the responsibility is attributed to the community.

Rehabilitation

If the home needs a remodel in the structure or other features, it will be a high expense for the buyer. For this reason, it is important to review this factor as an additional expense.

Agencies

To buy a home, the intermediation of an agency can solve some questions that we cannot do ourselves, either due to lack of time or ignorance. However, real estate companies also cover a series of services that can replace these agencies.

The initial forecasts can make that some expenses can be reduced. Although it is normal to pay for certain necessary matters, it is important to save on the aspects that are really necessary at the beginning of the home purchase.

Also, it is important to note the obvious defects to avoid rehabilitation costs. In some cases, it will be more useful to find a home that has a better structure.

Point 3: Risk factors that you should keep in mind when buying a home

There are important factors that can pose a risk if not carefully reviewed. These have to do with mortgage matters, the economy and debts that the property presents. 

If you want to enjoy your home, you must reduce the obstacles that may arise after making the purchase.

Credits 

To obtain a home, some people turn to financial benefits provided by recommended and reputable banks. They can offer mortgage assistance in order to get you the home you want.

Given these resources, you must consider the term granted to you to complete the total cost. Some banks can offer from 5 to 30 years to make the payment of the house. It is common that the credit to buy a home has limited financing depending on your own personal conditions. This means that you will have to use your income to complete the purchase.

Before applying for one, evaluate your financial capacity to avoid the cancellation of the credit or the foreclosure of the house.

Debts of the former owner

Debts that have not been paid before buying a home will become part of the inconvenience of the new owner. Before making the purchase, it is important that you make sure of the cancellation of the debts of the property you want to acquire. Hiring a real estate professional would solve any doubts in this regard. 

Land Type

When evaluating the benefits that your future property can bring you, be sure to verify the stability of the land where it is built. Homes with unstable terrain can pose a risk to the life and health of those who inhabit it. 

With the limits and measurements of the house, you can investigate with the help of an expert. The stability of the construction and the possible dangers of the terrain. Since this is an important issue, take your time.

Social danger

The purpose of doing an early review of the environment can also help you avoid probems in the social sphere. You may find that the area around your home is not safe. In such a case, you may risk suffering at the hands of criminals.

The aforementioned is necessary, but the truth is that we are rarely so cautious, so if you do not have enough time to dedicate yourself to reviewing the home. Or you fear making a bad decision due to the excitement of acquiring your home, then the best what you can do is ask for advice. At this point, a real estate agent will be your best option.

The agent that can be assigned to a real estate agency will help you with the legal review. This implies carefully examining the documents of the house in question and determining if there are errors in their writing or errors in the registry.

These people can learn more about what it takes to buy a home on a larger scale. They can help you make a negotiation that benefits you, and determine if a home is valued correctly or not.

In addition, they can help you find your home, based on the budget you present. With their knowledge, you can find a good location, excellent structures and other amenities for a reasonable price that stays within the limits of your economy.

Having their help can also protect you from seller fraud. He will make the appointments, be able to accompany you on the home inspection, and speak on your behalf during the negotiation. 

All this will help you to buy the home safely and legally thanks to the prior review of an expert. So do not see real estate as another expense, visualize it as an investment that will help you later enjoy the house you really want.

Benefits of hiring a property inspector before buying a home

Although many buyers would like to personally ascertain the condition of their future home, the reality is that they do not have the essential knowledge of the area. For this reason, having an inspector can be the solution to future property problems.

The inspector will be in charge of examining the house meticulously. This will be done in order to find possible defects in the structure, roofs, plumbing, electrical, terrain, bases and more. Some benefits that may result from your services are:

• Safe shopping.
• Investment durability.
• Recognition of the value of the home.
• Reduction in repair or remodelling expenses.
• Approval in construction of annexes.
• Risk reduction.

Point 4: Inspect yourself before buying your home

If you do not consider it appropriate to hire an inspector anyway, then you can carry out certain evaluations yourself. There are at least three types of evaluations that must be applied before you make the purchase decision. These come into operation during the first visit, when investigating in depth and just before making the deal effective.

Superficial

Finding a home with the desired look, go inside and check the divisions, space capacity, location, and surroundings. Also, you can realize the changes it needs in the facade, the internal color, the climate, among others.

This inspection is quicker, but it can be revealing if done carefully, as it can give you an idea of ​​how much to spend in case it needs to be remodelled.

Defined

Being the second review that is made, its purpose will be to determine its feasibility for the purchase or the need to completely discard itself as a candidate.

Make an analysis of the positive and negative points of the house and if during this process more defects than benefits are found. It would be advisable to look for other options for the investment of your home. Although externally it gives the impression of being a suitable home, the review will have determined a higher future cost.

Check 

This is recommended to be done in a couple of days after you have already determined that the house is suitable for living in it. Before performing the verification, try to think of any other factor that may generate doubts, things as simple as, for example:

How are the neighbours? At what times does the sun hit the house the hardest? Why do they want to sell the house? They can give you important information that perhaps in the previous stages you did not take into account. And remember, you will still be in time to discard the property. 

Advantages of conducting an early review

The benefits of buying a home can be pleasant to the owner if he has previously decided to conduct a review in order to verify the potential of the home. 

• It will increase the desire to buy the home.
• You will check the cost value.
• The risk of fraud, shaky ground, or additional expenses will be reduced.
• You will positively consider a remodel.
• Possibility of taking advantage of spaces.
• Certainty of permanence.
• Positive investment guarantee.
• Satisfaction in the purchase of the house.
• Verified and stable documentation.
• Reduction of inconveniences.

Therefore, the early review prevents risks for the family, and the owner makes sure to acquire a home that he can leave as an inheritance to his children.

Point 5: Useful financial tools to buy a home

However, when financial capacity is low, it may even seem that it is not possible to acquire a property. However, do not lose hope as there are different financial instruments that can help you acquire a property. Of course, you should evaluate each of them to see if they suit you or not.

Mortgage credit before buying a home

This convenient tool provided by credit financial institutions approved by the Bank of Spain aims to help you buy your future home. You will have the freedom to choose the type of house and the area where you want to buy it. However, you must be a qualified buyer for that credit institution.

One benefit of having a mortgage loan is having counselling. This aspect can be very useful to determine what the type of home you need should be so as not to exceed your budget. But it is important that you analyze the risks derived from this resource.

Official protection when buying a home

In Spain, there are subsidies to purchase a home, the purpose of which is to help a person or families. Who do not have sufficient economic possibilities to acquire a home with free access.

Thanks to this, singles, large families, single-parent families, people who have been victims of violence or terrorism, unemployed, disabled or elderly people, can acquire a home at very affordable prices.

It is a good possibility that will help to find low-cost housing, but that also has limitations, such as sale price limits, the minimum period of habitability, etc. Unlike free homes that do not have their sale price regulated, being the market itself the one that sets the acquisition price.

This means that this type of housing is not frequently rehabilitated to increase its value since its sale price will never include the added value of the reform. This certainly explains that these types of buildings, over the years, tend to be very neglected and obsolete.

Therefore, it is only advised that you acquire a home of these characteristics when your needs are real and immediate since the acquisition costs of these homes will be somewhat lower, but you will not be able to consider a profitable investment in the medium long term.

Benefits of having financial tools when buying a home

Although each of the tools or resources that have been mentioned is different, they can bring benefits to those who want to buy a home.  For example, although credits must be taken responsibly, they can be paid in instalments on a monthly basis.

In addition, some credits can also be used to refinance you or to apply some remodeling. In the case of cash deals, they will always be an accessible option. The operation can be consolidated quickly and with less hassle. Many prefer this means to avoid debt and monthly loss of liquidity.

With regard to subsidies, you have the possibility of acquiring a home in good condition and at a more accessible price. Of course, this case is only for people who have an urgent need due to lack.

Point 6: Insure your home and gain peace and tranquillity

By now, you have already known the most important points to review before making the purchase; however, it is important that you now think about the security of what will be your new asset.

Insurance can help you protect your assets in many ways. Since buying a home in stable condition is a challenge, insuring it can make the investment that has been made last. What advantages can insurance represent for your home?

Savings if you buy a home

Having your home insured will reduce the possible expenses that are generated by a disaster, emergency or unforeseen event. Additionally, appliance leaks and damage also represent a repair expense that can be covered.

Protection 

Disasters, fires and earth movements are just some of the problems that can affect a home. Having insurance can help you cover the expenses that are generated by the repairs.

Insurance not only protects the home but the things that make it up. Some of these can be computers, jewelry and other assets that can be affected by crime or breakdowns in electrical systems. In these cases, you can get the money you need to replace or repair damaged items. Of course, everything will depend on the policy you hire and the budget you have for it.

Peace of mind when buying a home

As one of the greatest benefits, you will obtain peace of mind regarding the possible risks that your home may suffer. After you have found the ideal home, you can protect it from any unexpected situation.

Relevant conclusions to remember when buying a home

As you may have noticed, buying a house correctly involves certain things that go beyond having the capital and paying for the property.

If you have found a house that conforms to the ideals you consider, do not get carried away by superficial impressions. Before that, check everything that can make your investment and stability remain. For that, it is important to do a review prior to purchase.

Remember that small details matter when buying a home

Be aware of the small details that can make a difference. These have to do with the distribution of the house, the area in which it is located, the cost of services, and the environment that surrounds it, the materials that make it up, among others.

Make sure to correctly verify the documents that relate to the house. If you have problems with them or with the verification of the condition of the house, a real estate agent, a lawyer, an architect or a facilities inspector can be of great help. Their knowledge and services will make the purchase a safe investment.

When determining that a home is not a suitable option, you will have to keep looking. This will allow you to have more options for your future home, and expand the search area. 

Enjoy the process if you buy a home

Remember that you can consult a real estate agency, many times they will give you free information that will be very useful, they can even help you get the house of your dreams without having to make greater efforts, since the real estate will do all the process mentioned above, to give you what you want.

If you do not have enough money to buy a house, you can use some tools or financial aid that banks or the government provide. The purpose will be the same: to buy a house that is in adequate condition.

After you buy your home, you can insure it to protect it against potential future inconveniences or disasters. This can bring you peace of mind, happiness, and satisfaction.

Before buying a home, there are many things to review to determine if it is the right place. Whoever does it will get lasting benefits so, don’t forget reviewing a home before you buy it is an excellent investment.